Cardano (ADA) is… a cryptocurrency through the eyes of Masterforex-V traders

Cardano (ADA) is a decentralized (peer-to-peer) payment system built on cryptographic security methods, but with “open access” online to all transactions between addresses and system participants in the clear.

ADA USD is a cryptocurrency pair indicating the rate of Cardano (ADA) to the US dollar on cryptocurrency, stock, futures, currency exchanges, as well as on the over-the-counter forex market. The volatility of the pair is strong - about 200 points per day (with 4-digit quotes), trade rates - for some brokers reach up to 20 points, swaps are negative on both , and Sell.

The ADA USD ratio shows the value of Cardano in USD. In the summer of 2022, the price breaks records, rising to $3.08 per 1 ADA.

Cardano through the criteria of Masterforex-V analysts

Information about cryptocurrency from Masterforex-V traders

conclusions

Cardano can be considered a reliable platform due to the use of scientific methods in its development. According to the creators, the Cardano cryptocurrency should include the best that has been created and get rid of existing shortcomings. Claiming to be the new Ethereum, Cardano uses the same two-layer architecture: currency and smart contracts. At the same time, the development is open access and is not patented, so developers must create something unique so that others cannot repeat it. For now, everything is limited to just one wallet. There are no agreements with large corporations, but the exchange rate dynamics are positive. Cryptocurrencies do not accidentally make it into the TOP 5, and the advantages of the project should soon be revealed. The exchange rate reacts to news in the development of the platform, so each new information occasion will ensure that the coins rise in price exponentially. While the rate is low, purchase several thousand tokens and hold on to them.

What do you think about Cardano cryptocurrency? Do you have experience investing in Cardano? Write in the comments.

How is the price of Cardano determined?

The world price of Cardano is determined on crypto exchanges, stock exchanges and forex in the monetary units of other countries. For example, ADAUSD shows how many dollars 1 ADA is worth. That's why,

• the bullish trend (growth) on the ADAUSD chart is an increase in the price of Cardano;
• The bear market (fall) of ADA/USD is the devaluation (fall) of Cardano.

Team Cardano

Cardano Team
The idea of ​​​​creating the Cardano cryptocurrency (ADA) belongs to Charles Hoskins, a famous programmer who participated in the development of Ethereum, but left the project before the launch of the ICO. Charles created a strong team of professionals, whose active work allowed Cardano to see the light of day.

However, the Cardano cryptocurrency is not a project of one developer; there are three companies behind it that are working on the development and promotion of this coin:

IOHK (Input Output Hong Kong)

- the company was created by Charles Hoskins and another famous programmer Jeremy Wood in 2014. Her responsibilities include developing and improving technology, creating a wallet and making changes to the Cardano protocol. It is noteworthy that this company is not just engaged in creating engineering solutions in the field of blockchain technologies, but also has its own research base, represented by 17 professionals in this field. IOHK also supports not only Cardano, but also other cryptocurrency projects, in particular Ethereum Classic.

Cardano Foundation

is a non-profit organization headquartered in Switzerland. The tasks of the Cardano Foundation include:

• PR support and popularization of the Cardano cryptocurrency;
• Providing information about developments, upcoming innovations and changes;
• Monitoring the Cardano team’s implementation of the plan described in the cryptocurrency Roadmap;
• Influencing government and regulatory authorities;
• Concluding strategic partnerships with companies that are interested in implementing blockchain technologies in their products.

Emurgo

is a Japanese venture capital company that invests in young blockchain projects. In the Cardano ecosystem, Emurgo helps companies integrate the cryptocurrency protocol into their business processes. In addition, in the future, the company plans to support and assist in the development of companies that will develop their decentralized applications based on the Cardano blockchain.

Cardano is supported by three organizations. Their interaction is very interesting: IOHK is creating a scientific and technical base and supporting the protocol, the Cardano Foundation is helping to popularize and promote the coin to the masses, and Emurgo is helping interested businesses with the implementation of Cardano.

We also advise you to watch our video review of this cryptocurrency:

Cardano Cryptocurrency Review

What determines the Cardan to dollar exchange rate?

Cardano (ADAUSD) price mainly depends on the trend of the US Dollar Index.

• if there is a bullish trend in the USD index, a bearish trend will be observed on the chart of the ADAUSD pair;
• if there is a bearish trend in the dollar index, an upward trend will be observed on the pair’s chart.

What is the current ADA value index?

With a maximum supply of 45 billion ADA, Cardano's market capitalization is $55.58 billion. On June 1, trading volume increased by almost 13% . More importantly, in anticipation of smart contract integration via the Alonzo update, the price of ADA has skyrocketed. From January 2021 to June 2022, ADA jumped 886% of the cryptocurrency, from $0.1753 to $1.73, surpassing $2 at its peak. At the time of writing this analysis, it was trading at $1.25-$1.30.

In other words, if you had been following Cardano news from the beginning and were forward-thinking enough to invest in January, you would have received almost a 10x return on your investment! Suffice to say, this is an almost unimaginable level of stock market returns in such a short period of time. The only question is: can the ADA (Cardano) cryptocurrency reach $10 from the all-time high of $2.45 reached on May 16?

What is a Cardano wallet?

The crypto wallet stores a key that allows you to manage your virtual money. Any crypto wallet consists of two keys - a public (for receiving transfers) and a private key (for sending to other participants).

In other words, a crypto wallet is needed to store digital keys that give access to the wallet address and the ability to sign transactions.

There are hot and cold wallets.

A cryptocurrency hot wallet is a wallet with a permanent Internet connection. For example, you can create a wallet in the Trust Wallet, Binance Chain Wallet, Metamask, Atomic Wallet, Exodus, etc.;

Moreover, many popular blockchain wallets that support Bitcoin also allow you to store Bitcoin Cash.

A cold wallet is, accordingly, a wallet that is not connected to the Internet. Such wallets can be:

• A hardware wallet is an offline device similar to a flash drive with pre-installed secure software, for example, Ledger, SafePal, Trezor, etc.
• USB Wallet - A dedicated USB flash drive for storing both keys.
• Paper wallet - QR code of your keys printed on paper.

Where to store coins

Cardano has the official wallet The Deadalus. It runs distributed applications on the Cardano blockchain. Deadalus implements the ability to securely place money in cold storage. Supports Bitcoin, Ethereum and uses encrypted keys. The design of the wallet is simple and clear.

Cardano wallet is downloaded from the official Internet project Cardanohub.org. When the site loads, click on the “GET STARTED” link. Next, go to “daedalus wallet”.

A window will open where we click on the “Download” button and download the wallet. Its installation is simple and will not cause difficulties even for beginners.

After installation, the wallet window will open.

Its further functionality is standard. The wallet allows you to accept and send tokens and maintains transaction history. For security purposes, one-time passwords are used.

The wallet is loaded onto a PC with MacOS and Windows installed. It is planned to develop a version for Linux OS, mobile versions, and include equity financing. Then users will participate in creating blocks and receive rewards for this.

How to buy Cardano?

How to get Cardano:

• buy online or from local Bitcoin ATMs located around the world using your Mastercard, VISA, UnionPay, etc. credit card.
• buy from an investment broker;
• buy directly from other Bitcoin owners using Bisq, Bitquick and LocalBitcoins.com tools;
• buy on a cryptocurrency exchange, for example:

Scandal of days gone by

Boris Druzhinin “Quantik” No. 7, 2014

Not a single scientific discovery bears the name of its true author.

Arnold's principle

(
discovered by S. Stigler
)

Gerolamo Cardano (1501–1576)

Once in the editorial office of a mathematical journal, over a cup of tea, there was a conversation about justice in science. They remembered that “Newton’s rings” were discovered by Hooke, “Lorentz transformations” were first performed by Fitzgerald, Eirik the Red visited America 500 years before Columbus, and Gunbjorn visited America 100 years before him. In mathematics, Gauss developed “non-Euclidean geometry” before Lobachevsky, Bolyai and Riemann; “Vieta’s formulas” were used even before his birth.

“And Cardano himself simply stole the “Cardano formula” for solving the cubic equation from Tartaglia,” someone recalled.

"Great Art"

In 1545, the book “Great Art” ( Ars magna)

), which collected all the latest achievements in mathematics by the middle of the 16th century. And a scandal immediately broke out.

But first, a little history.

The gloomy Middle Ages plunged European science, including mathematics, into hibernation for a thousand years. The works of Greek scientists turned out to be of no use to anyone, and they were simply forgotten. Of course, the merchants brought fragmentary information about the achievements of Arab mathematicians, but these were merchants, they were interested in arithmetic. However, life went on, the economy developed, and it required scientific and technological advances.

Mathematics has moved from a dead point. Mathematical competitions, a kind of duel, even began to be held. Two mathematicians sent each other a certain number of problems, and whoever solved the most was the winner. And this winner not only received the title of great mathematician, but also could well take a very attractive financial position as a mathematician at the court of a duke, king, or even the Pope himself. So there was something to fight for.

Science can be ruined quickly, literally within the lifetime of one generation. And it takes centuries to restore science. And in the 16th century, European mathematicians were just mastering the heritage of the ancient Greeks, Hindus and Arabs. Recipes for solving quadratic equations of a certain type were found in ancient Babylon. Euclid actually solved quadratic equations in some construction problems. Arab mathematicians also knew how to solve them. True, they solved them using geometric constructions, but they got the correct answers. Nobody knew how to solve cubic equations.

And so, in Cardano’s book, general formulas for the roots of the cubic equation appeared! Sensation! The Greeks are left behind! But where did the scandal come from?

Del Ferro, Fiore and Tartaglia

The first to solve a cubic equation of the form x

3+
ax
=
b
Professor of mathematics from the University of Bologna Scipione del Ferro. Before his death in 1526, he shared his discovery with his students. One of them, a certain Antonio Fiore, tried to use this gift to become invincible in duels between mathematicians. And at the end of 1534, he sent Niccolo Tartaglia a challenge to a problem-solving competition.

Niccolò Fontana Tartaglia (1499/1500–1557), Italian mathematician. Translated Euclid's Elements into Italian and made a commentary on them. Studied ballistics

Niccolo was born around 1500. As a child, he received a throat injury and had difficulty speaking, for which he received the nickname Tartaglia, which means “stutterer.” The poor family could not pay for their son’s schooling, but the boy persistently studied all the sciences, including mathematics. By the time of the events described, he had already gained fame outside his native Brescia.

Duel

Fiore offered Tartaglia thirty problems, and each one involved solving a third-degree equation. At that time, such problems were considered unsolvable in the general case. Therefore, almost until the end of his term, Tartaglia did not even try to solve them: he was going to expose the enemy for giving him tasks that he himself could not cope with. But then Tartaglia heard rumors that Fiore had a way to solve such equations. Having made enormous efforts, Tartaglia himself found such a method, quickly dealt with all thirty tasks and sent his notes to the notary who played the role of a judge.

As for Fiore, he was unable to solve a single problem proposed to him by Tartaglia. Moreover, he was unable to solve a single problem, although he mastered the del Ferro method. And this once again proves the need for regular exercise and training. Anyone knows that you can hammer a nail if you place its sharp end against a board and hit it with a hammer. He knows something, but he will learn how to hammer correctly only after he bends a thousand nails and hits his fingers a hundred times—naturally, his own.

This statement applies to mathematics to a much greater extent. Fiore, having received from del Ferro a ready-made recipe for finding the roots of a cubic equation, had no doubt that now he could cope with any task, and therefore did not bother himself with preparing for the competition. But Tartaglia himself solved the cubic equation in general form, got excellent practice in handling such equations, and therefore completed all the problems in a few days.

And here is the irony of fate. The formula for the root of the cubic equation, discovered by del Ferro and independently by Tartaglia, bears the name Cardano. So what's the deal?

Cardano

The goal I was striving for was to perpetuate my name...

J. Cardano

A rotating body mounted on a gimbal. Even if the outer ring changes its position in space, the axis of rotation does not change. This observation is used in gyroscopes

Gerolamo Cardano was born in 1501. Having received an excellent education, he distinguished himself in many fields of activity. A famous doctor who successfully treated important people. A talented engineer who proposed a suspension for the carriage of the Spanish King Charles V so that His Majesty’s carriage would not tilt on uneven roads, remaining horizontal (today we call such a suspension a cardan suspension). Physicist who experimentally measured the ratio of air density to water density. True, I was a little mistaken, but who even now can measure more accurately with the same instruments? A gambler who laid the foundations of probability theory.

The cardan shaft allows rotation to be transmitted between non-parallel axes. It is used in most cars

Cardano also studied mathematics. For a long time he persuaded Tartaglia to reveal to him the secret of solving cubic equations in order to decorate the book “Great Art” with it. He argued his desire as follows: no one will ever compete with Tartaglia in solving problems, because he knows how to solve cubic equations, while others cannot. Whether under the influence of this quite convincing argument or for some other reason, Tartaglia finally yielded. He only set the condition that Cardano would not publish his discovery without the permission of Tartaglia himself.

Cardano agreed. But when one of del Ferro's students shared his teacher's recipe with him, Cardano considered himself free from the obligations he had given to Tartaglia, and published a method for solving the cubic equation. This is how the “Cardano formula” appeared, although Cardano himself did not hide the priority of del Ferro and Tartaglia.

And now, five centuries later, it is unlikely that anyone will be able to fully understand this truly detective story.

Fourth degree

Without mentioning Ferrari, Abel and Galois, a story about the history of solving cubic equations would be incomplete.

For fifteen hundred years, mathematicians could not approach the cubic equation, but as soon as it was solved, the equation of the fourth degree was literally immediately solved in general form. This was done by Cardano's student Luigi Ferrari. It is curious that to solve this equation it is necessary to solve an auxiliary equation of the third degree “along the way”.

All attempts to solve the equation of the fifth degree in general form over the next three centuries were unsuccessful. And in 1826, the Norwegian mathematician Niels Abel proved that there is no general formula for solving equations of the fifth degree, and also for equations of higher degrees. Abel made his discovery at the age of 24, but lived a disappointingly short time, only 27 years.

The brilliant French mathematician Evariste Galois lived even shorter, less than 21 years. He continued Abel's research, determining how to determine whether an algebraic equation is solvable by the form of an algebraic equation. The method proposed by Galois laid the foundation for a fundamental branch of mathematics - group theory. The name “group” was suggested by Galois himself. He died in a duel. The night before the duel, Galois put down on paper his thoughts about mathematics. Mathematicians were able to understand these notes and understand Galois’s ideas only after many decades.

And one more important detail. Solving an equation of the third degree led mathematicians to the need to study complex numbers. Functions of a complex variable play a significant role in modern theoretical physics and electrical engineering, not to mention mathematics itself.

Indicators for predicting the Cardano rate from Masterforex-V

One of the know-how of the MF trading system is the levels for placing orders of market makers (MF levels). Pay attention to how in the above figure you can see that the price moves from one such level to another. The same MF levels are published on the Academy’s closed forum not only for the main currency pairs - the majors, but also for cross rates, cryptocurrencies, and futures.

It is also recommended to install FREE indicators: WPR_VSMARK and AO_ZOTIK.

This minimal set of tools will already indicate the logic of the movements of the classical ether exchange rate, and with further training at the Masterforex-V Academy you will be given exclusive MF developments for analysis and profitable trading.

Era of Goguen: implementation of smart contracts

The third era was named after Joseph Goguen (1941–2006). He was an American scientist who revolutionized computer science. In the Goguen era, from 2020 to the present, Cardano developers are introducing support for smart contracts and decentralized applications

Portrait of Joseph Goguen. Source: Cardano Roadmap

The goal of the Goguen era is to create the Plutus smart contract development and execution language. Its feature is full compatibility with the Haskell programming language. This means that developers can use the same code at all stages of creating smart contracts. Other blockchains often require programmers to use two or more different languages, reducing efficiency and increasing the likelihood of costly mistakes.

In the Goguen era, developers are also increasing Cardano's accessibility to a wider audience. To do this, they created Marlowe, a simplified language for financial smart contracts built on Plutus. It allows financial and business experts without programming experience to independently create smart contracts and run them on the Cardano network.

All the latest technical progress updates are published in Cardano's weekly technical reports.

In the Goguen era, creators are increasing the number of use cases for Cardano. Decentralized applications are already being created, such as token issuing platform Occam.fi and decentralized exchange aggregator DeFIRE. Blockchain users will also be able to create their own tokens - for example, analogues of ERC-20 or NFTs (non-fungible tokens).

ADA course and myths on the Internet

For many years, outdated dogmas have been written that the ADA/USD exchange rate depends

• from the statements of various experts, gurus, etc.;
• economic news from the USA, China, .

But what really affects ether is the trading volume of classic ether on exchanges. You can read in detail in the articles Basics of Volume Theory and Masterforex-V about the shortcomings of volume analysis in the Forex market.

The figure shows the relationship between trading volumes and trends in ADA:

Basho Era: Network Scaling

In 2022, when all work related to the Goguen era is completed, the Basho era will begin. Matsuo Basho (1644–1694) was a famous Japanese poet. The basis of his style was the rejection of his own individuality and connection with nature. This philosophy will be reflected in Cardano. In previous eras, developers were focused on adding new features, and in the Basho era, they will improve the underlying performance of the Cardano network. This is how they plan to support the growth and adoption of decentralized applications.

Portrait of Matsuo Basho. Source: Cardano Roadmap

One of the main tasks in the Basho era will be the creation of sidechains: new blockchains compatible with the main Cardano network. They will be used to implement experimental features without affecting the security of the main blockchain. Sidechains will also increase network capacity and solve the scalability problem that all modern blockchains face.

Scalability is the ability of a system to function without errors under conditions of an ever-increasing workload.

The developers plan that in the Basho era, Cardano will become one of the most high-performance blockchain platforms. The blockchain will begin to take its final form and all major updates will end.

Anonymity of Cardano

As you know, every cryptocurrency transaction is recorded on the blockchain. On the one hand, the purpose of recording classic ether transactions is to prevent counterfeiting, but on the other hand, there is no question of anonymity - all the details and addresses of your transactions, the number of coins in the account become the property of other people in the group.

It should be said that Cardano does not have privacy features like Monero. This is primarily due to the reluctance of developers to bring regulatory pressure to bear on the project.

In short, movements on the ADA USD pair are divided into:

• LONG-term (as a rule, they are allocated on timeframes from Daily and higher). These trends usually last for several years and usually begin and end with trend reversal patterns (“head and shoulders”, “spikes”, etc.);
• MEDIUM-term (as a rule, they are allocated on timeframes from H4). These trends usually last for several weeks. These trends follow the MF levels (see above) and within them there are trend continuation patterns: flag, pennant, wedge, etc.

Description of the project, history of creation

Cardano is a project created in 2015 as an attempt to change the way cryptocurrencies are designed and developed. A certain set of innovations makes the ecosystem balanced and sustainable, better responsive to the needs of users (and other systems seeking integration).

Like many other open source projects, the Cardano cryptocurrency did not start with a lengthy roadmap or an impressive White Paper. Rather, it was a set of certain design principles, including:

• distribution of accounting and calculation levels;
• implementation of the main components of a multi-module system;
• participation of groups of scientists and developers;
• active use of expert knowledge and interdisciplinary teams;
• rapid interaction between White Paper, implementation and innovative research needed to eliminate identified problems.
• the ability to painlessly update the system after release;
• decentralized financing mechanism;
• long-term projects to adapt cryptocurrencies for mobile devices

...and more than 10 other important principles.

From this jumbled collection of ideas, the developers of the ADA cryptocurrency began to create an initial set of abstract functions. The result is an extensive library of IOHK documents, a lot of survey results, the Scorex project, an ontology of smart contracts.

Pros and cons of Cardano

Cons of Cardano:

Cardano has the following disadvantages:

• long development of the system.

Pros of Cardano:

Pros of Cardano:

• low energy consumption when processing transactions compared to Bitcoin;
• The blockchain is based on one of the most secure programming systems;
• decentralized platform;
• private transactions at any time with minimal commissions;
• the absence of intermediaries in the form of banks or exchange offices - many are seduced by the lack of control on the part of banks, financial regulators, and the state;
• higher transaction speed compared to Bitcoin.

Shelley's Era: Blockchain Decentralization

The second milestone of Cardano's development takes its name from Percy Shelley (1792–1822), another British poet and writer, a real-life friend of Lord Byron. He is known for his radical works against the monarchy. The Shelley era began in 2022 and ended in 2020, and its main goal was the decentralization of the blockchain.

Portrait of Percy Shelley. Source: Cardano Roadmap

In the previous era, the entire Cardano infrastructure was controlled only by the development team. In the Shelley era, the main update was the emergence of staking pools. They made the blockchain more decentralized and secure.

Staking pools in Cardano have their own peculiarity. All known blockchains are controlled by less than 10 pools, which puts their security at risk. Cardano has a maximum size limit of 60 million ADA. If this limit is exceeded, rewards for participants begin to decrease, forcing them to move to another pool. There are currently about a thousand staking pools in Cardano with equal stakes.

Thus, the Shelley era represents the technological “maturing” of blockchain to enable future innovations. According to the Santiment market report, Cardano was recognized as the most actively developing cryptocurrency project by the end of 2022.

Recommended brokers for trading the ADAUSD pair

The Masterforex-V Academy has long had a list of trusted brokers that provide all the necessary tools for trading in one trading platform - Meta Trader 4. Among them, more than half of the traders of the pro-rebate.com system open real accounts with the NordFX broker. Why? Because the NordFX brokerage company has all the conditions for profitable trading:

• currency pairs – NOK JPY, USD CHF, NZD USD, CAD CNY, USD CNY, GBP BYN, GBP SEK, CHF UAH, GBP JPY, AUD CHF, USD UAH, USD JPY, USD RUB, GBP USD, USD SEK, GBP CAD , GBP CHF, SEK RUB, EUR SEK, CHF RUB, EUR NOK, EUR BYN, GBP AUD, USD NOK, GBP NZD, GBP NOK, EUR AUD, USD ZAR, EUR GBP, EUR JPY, GBP NZD, USD RUB, USD CAD, EUR NZD, USD SGD, EUR CHF, NOK CHF, GBP RUB, AUD USD, AUD RUB, EUR CAD, EUR RUB, EUR USD, CHF BYN;
• cryptocurrencies ADA, EOS, NEM, OMG, LTC, LINK, IOT, ZEC, BSV, DASH, ETC, BTC, NEO, ETH, TRX, BTG;
• CFD on gold, silver, oil;
• Indices Euro Stoxx 50, NIKKEI 225, FTSE 100, NASDAQ-100, S&P 500 and others.

Also, other traders work with other companies from the top league of the rating - Dukascopy Bank, OANDA

FOREX.com, FIBO Group, FXPro, Interactive Brokers, Saxo Bank, FXCM, Alpari, Finam, Swissquote Bank.

Among the 2nd league of popular companies, but with a large number of complaints from Masterforex-V traders, one can highlight AlfaForex AMarkets, BCS Forex, Grand Capital (Grand Capital, NPBFX, DF Markets, eToro), TeleTrade (Teletrade, Forex4you, InstaForex (InstaForex, RoboForex (RoboForex, EXNESS (Exness, Forex Club), FreshForex (Fresh Forex, MaxiMarkets (Maximarkets)

Sincerely, wiki Masterforex-V, free (school) and professional training courses Masterforex-V.

Features of cryptocurrency, technical implementation

Ouroboros is a proven safe Proof-of-Stake variety. Currently, it has the most thorough security analysis of all cryptocurrencies.

First, a model is proposed that formalizes the problem of implementing a blockchain protocol based on PoS. The new model implemented focuses on resilience and permanence, two key properties of a reliable transaction ledger. Once one node in the system declares a transaction “stable,” the other nodes will also report it as stable.

Secondly, a new blockchain protocol based on PoS has been created. Parties can freely create accounts, receive and send payments. The rate changes over time. A simple implementation of the randomness protocol is used, increasing the level of fairness in the project.